Adam Smith and the Founding Fathers envisioned a society in which economic and political freedom, grouped together in the ideology of liberalism, would produce a wealthy, free, and peaceful society. Centuries later, this vision has come to fruition, and F. A. Hayek and Milton Friedman helped elaborate and advance that vision in their economic and philosophical works. The lesson for today’s populist moment is not to abandon these principles, but to continue to pursue them, as it is their imperfect realization, not their imperfect conceptualization, that burdens today’s society, writes Peter Boettke.